Bajaj Finance, a leading non-banking finance company has partnered with Wordline to develop point-of-sales (POS) payments acquiring solutions for its merchant network.
Worldline will be develop and manage the merchant acquiring initiatives of Bajaj Finance at pan-India merchant locations. Bajaj Finance said it aims to enhance its relationship with both their existing and new network of merchant partners, by providing point-of-sale terminals and enabling acceptance of a wide range of payment instruments such as EMI cards, credit cards, UPI and wallets on those terminals.
In addition to the transactional services, the tie-up will provide value-added services like billing integrations, EMI offerings, transactions processing, data analytics and fraud management services.
It will enable Bajaj Finance’s 58 million customer base to avail of its various services such as Bajaj Network EMI Card, Bajaj Pay Wallet, Bajaj Pay UPI and Bajaj Coins’ redemption at the point-of-sales outlets.
Rajeev Jain, Managing Director, Bajaj Finance Limited, said, “As a part of our broader strategy to expand the digital offerings, we forayed into the digital payments business last year to offer an integrated payment solution to customers and merchant partners. Bajaj Finance has been consistently delivering seamless and agile credit solutions to consumers and merchants alike, and this partnership will only help extend our product suite to go beyond credit products to commerce and payments technology across our large and expanding network of merchant stores, spread throughout the length and breadth of the country.
Jain further added, “Bajaj Finance has always been at the forefront of digital technology, and we are confident of leveraging Worldline’s cutting-edge technology to deliver a disruptive and game changing in-store payment acceptance experience for our ever-growing merchant partner ecosystem.”
Deepak Chandnani, Executive Chairman, Worldline India, SA, and ME said, “Worldline India is proud to partner with Bajaj Finance Limited to provide easier, faster and secure digital acceptance solutions. Our expertise in creating and managing the entire merchant lifecycle journey will benefit BFL in offering rich experience to their valued customers. Our dedicated workforce will ensure seamless execution for Bajaj Finance’s requirements which will contribute to the growth of both the entities. We have successfully managed large scale partnerships in India and other markets and are looking forward to a long term mutually beneficial partnership with Bajaj Finance Limited.”